By Sarah Lizee
Olympia, Wash., Feb. 28 – Wells Fargo Finance LLC priced $2.75 million of market-linked securities – callable with contingent coupon and contingent downside – due March 6, 2029 tied to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.15% if each index closes at or above its 75% coupon threshold level on the observation date for that quarter.
The notes will be callable at par on any contingent coupon payment date after six months.
The payout at maturity will be par unless either index finishes below its 50% threshold level, in which case investors will lose 1% for every 1% decline of the lesser-performing index.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Market-linked securities – callable with contingent coupon and contingent downside
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $2.75 million
|
| Maturity: | March 6, 2029
|
| Coupon: | 7.15%, payable each quarter that each index closes at or above threshold level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls by more than 50%, in which case 1% loss for every 1% decline of lesser-performing index
|
| Call option: | At par on any contingent coupon payment date after six months
|
| Initial levels: | 2,796.11 for S&P and 1,588.805 for Russell
|
| Coupon thresholds: | 2,097.0825 for S&P and 1,191.60375 for Russell; 75% of initial levels
|
| Thresholds: | 1,398.055 for S&P and 794.4025 for Russell; 50% of initial levels
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 4%
|
| Cusip: | 95001H2R1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
